Any government with conscience will review controversial AGM agreement - Alex Mould

Mr. Alex Mould, former Chief Executive Officer (CEO) for Ghana National Petroleum Corporation (GNPC) has chided the New Patriotic Party (NPP) government for a lack of conscience by agreeing to the AGM petroleum deal in its current.

He observed that the former sector Minister under this same government had rejected the renegotiation of a closed agreement claiming it was not in the best interest of the government.

Speaking on the topic “State capture of the Oil Industry” at a public forum organized by the Caucus for Democratic Governance (CDG) in Accra on Tuesday, May 7, 2019, the former GNPC boss was puzzled over what could have informed government’s decision to review its share in the block from between 43% and 49% to a paltry 18%.

He likened it to a road contractor bidding low in a tender and then asking for a variation; even before the contractor moved to site and therefore believes they were in no way entitled to any such variation and the approval of same was illegal.

Speaking at the forum, Mr. Alex Mould said “AGM should have continued with its exploration work program and spent the minimum $259M in de-risking the field as agreed in the WP; by doing its seismic data collection and drilling wells in the initial exploration period.